Schulte Roth & Zabel formed a dedicated special situations group. Co-chaired by partners Adam Harris and Doug Mintz, the special situations group is a multidisciplinary team focused on helping clients achieve their legal and financial objectives across the spectrum of stressed and distressed transactions. it is comprised of lawyers from practice groups across the firm, including business reorganization, finance, litigation, mergers & acquisitions, securities, distressed trading and tax.
As many restructurings are now being implemented out-of-court, companies are making use of a wide range of solutions and workouts to manage their financial difficulties, avoid insolvency and successfully navigate what can often be contentious matters involving different classes of creditors.
“The special situations group is responsive to our private capital clients’ needs as the breadth and process for restructuring transactions expands beyond straight-forward bankruptcy and into an array of potential transactions, including loan modifications, creative financing transactions, coercive exchanges and pre-negotiated bankruptcies,” Mintz said. “This is a team that leverages the full range of our firm’s deep experience in providing counsel on complex out-of-court financial restructurings, Chapter 11 reorganizations and insolvency proceedings across a wide range of industries.”
“As more restructuring takes place outside of court, the ability of advisers to provide the full suite of restructuring advice that private funds expect has become mission-critical,” Harris said. “For Schulte, and our clients, this is not new. Our focus on private capital has for many years afforded us a comprehensive view into the unique issues our clients face in restructuring situations, including those relating to client-specific structuring issues, tax structuring and regulatory and compliance requirements.”
“Special situations require a high level of interaction and cooperation across multiple practice areas to ensure that clients receive the best possible counsel on complex operational and financial restructurings,” Marc Elovitz, co-managing partner of Schulte, said. “Collaboration is in Schulte’s DNA, and we regularly advise our clients with the coordinated approach. The creation of this group represents a natural evolution of our collaborative structure to meet evolving client needs.”
